I have developed a plan for starting my first mining operation, and I would like to see if anyone has done anything similar or has any advice or pitfall warnings for me. I own a piece of property located 8 hours away from where I currently live and work. This property has infinite access to free natural gas. It also has access to falling cool mountain water that can either be used in a coolant system or as an alternative power source.
My plan is to build a small shed structure for the mining rigs and purchase a prime power natural gas generator to power the entire assembly. Prices of these generators vary (I cannot find a reliable source of prime power industrial generators, most all I can find are Standby generators which I do not feel will last) as I check eBay but I figure that I can get one in good shape for $2000-$4000 that puts out 30-65 kW.
I then plan to fill the building with X amount of Bitmain T9+'s based off of whatever generator I end up selecting. Reason being, with free power these are much more profitable in the short term due to their extremely low purchase price ($280) and can pay off their own cost and generator cost in 6-8 months.
All in all, for the cost of the generator, power conditioner, building, T9s, cabling and other extremities, and cooling system, I expend to spend about $15k.
Please let me know what you think and if you have any criticisms or suggestions
Thank you